3525 Colonial Ave · Dallas, TX 75215

$475,000

36 bd · 36.0 ba · 1,989 sqft · MultiFamily public records · 39 Days on market

Built 1964 Good condition 6,447 sqft lot $239/sqft · 47% above area Est $620k · 23% under

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Why this score? — see what drove the A- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +5.4/10.0
• Rent growth +4.3/5.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Schools +2.1/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 6 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Excellent opportunity to buy an affordable 6-plex very close to downtown. Well maintained property with excellent tenants and payment history. Rents could be increased when leases end to create an even better return. Recent infrastructure work on 45 and 310 plus real estate development in the Forest Theatre District and the Cedars makes this prime to buy now. Roof replaced in 2019; renovations in each unit throughout the last few years. Most of the units have been converted to ceramic tile floors. Reach out with questions!

Key facts

• Ceramic tile floors
• Roof replaced
• 6,447 sq ft lot

Tags

• WELL MAINTAINED PROPERTY
• ROOF REPLACED
• CERAMIC TILE FLOORS

What this means for you Summary

Snapshot

• This is a 6 × 6-bed/6.0-bath units multifamily listed at $475k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $6k ($66k/yr) — positive. Per door: $919/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($11k rent vs $475k).
• Recommended offer: $461k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 81/100 on livability (#24 in TX, #1,380 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, housing A+; Watch: crime F.
• Dallas ISD (urban): math 31% / reading 36% proficiency, ranked #559 of 826 in TX (top 68%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 83% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Paul L Dunbar Learning Center (math 27% / reading 22%, grade F, #3,052 of 4,322 statewide, top 74%, 531 students, 95% FRL); Billy Earl Dade Middle (math 18% / reading 23%, grade F, #1,407 of 1,662 statewide, top 86%, 636 students, 100% FRL); James Madison H S (math 17% / reading 17%, grade F, #1,491 of 1,632 statewide, top 92%, 359 students, 96% FRL).
• Zoned-school proficiency averages 21% at this address vs 34% district-wide (-13 pts) — the specific schools serving this property underperform the Dallas ISD average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+7.2%/yr); 318 active listings in the ZIP; 12,577 units permitted in Dallas County in 2024 (6,829 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($3k loan paydown + $4k appreciation (0.8% local appreciation)).
• Dallas County population projected at +35% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (0.8% appreciation + 7.2% rent growth), your $133k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($461k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 16y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $190k; list at $475k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major wind risk, 27% chance of damaging wind over 30y; extreme-heat days projected 7→23/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $460,750 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.39% ✓
• Cap rate: 20.22%
• Cash-on-cash: 49.74%
• DSCR: 3.21
• GRM: 3.5

CMA / ARV

• ARV (median comp): $620,000
• List price: $475,000
• Delta: -20.97%
• Verdict: UNDERPRICED
• Comps: 5 within 2.0 mi

Projected returns pro-forma

0.79% appreciation · 7.19% rent growth · sell at horizon

5-year hold

• IRR: 56.4%
• Equity multiple: 4.05×
• Total profit: $405,320
• Equity at exit: $156,967

10-year hold

• IRR: 59.8%
• Equity multiple: 9.37×
• Total profit: $1,112,699
• Equity at exit: $204,640

Cash invested: $133,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Texas: 87 Strongly Landlord-Friendly · R+5
• County: — inherits STATE
• City: — inherits STATE

3-day notice; statewide preemption; one of the fastest eviction climates; Travis County (Austin) slightly slower.

Methodology + full state rankings →

ZIP-level market 75215

• Home prices YoY: 0.3%
• Rents YoY: 7.2%
• Active inventory: 318
• Price-to-rent: 20.9×

Monthly cashflow live

• Estimated rent: $11,355 medium
• Mortgage (P&I): −$2,491
• Tax from tax record: −$768 /mo · $9,219/yr
• Insurance: −$198
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,385
• Net cashflow: $5,513

6-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	6	6	$11,358
Total (6 units)			$11,355

Break-even live

Break-even rent $4,376

Max offer price $475,000

Occupancy floor 46%

Sensitivity live

Price	-10% $5,782	-5% $5,648	+0% $5,513	+5% $5,379	+10% $5,244
Rent	-10% $4,616	-5% $5,065	+0% $5,513	+5% $5,962	+10% $6,410
Rate	-1.0pp $5,753	-0.5pp $5,634	base $5,513	+0.5pp $5,390	+1.0pp $5,265

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $118,750
• Closing costs: $14,250
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3239 Pine St Dallas, TX	5.0	2.0	1392	$2,400	$1.72	17d	1	1.22mi
4934 Echo Ave Dallas, TX	5.0	4.0	1815	$2,900	$1.60	93d	1	1.26mi

Property features AI

Finance

• Other: Listing is marketed under an exclusive right to sell agreementPossession at closing/funding or negotiableOriginal and current list price: $475,000
• Financial info: Gross annual income: $52,519Gross annual expenses: $24,656Net operating income: $27,863Insurance expense: $3,864Capitalization rate: 5.87%Financing available: Cash, Conventional, FHA, VA
• HOA & community: No association

Exterior

• Parking: Common parking lot
• Security: Audio and video surveillance allowed for visitors
• Utilities: City waterCity sewerMunicipal utility district: No
• Home design: Residential income property (apartment)1 building with 6 unitsBuilt in 1964Preowned
• Construction: Brick and wood constructionComposition roofPillar/post/pier foundation
• Exterior features: Lot smaller than 0.5 acre

Interior

• Kitchen: Other appliances
• Bedrooms: 6 bedrooms
• Flooring: HardwoodTile
• Bathrooms: 6 full bathrooms
• Heating & cooling: Electric heatingCeiling fan(s)Electric coolingWall/window unit(s)
• Interior features: Cable TV availableHigh-speed internet availableTwo levels
• Laundry & utility: No specific laundry details provided

Listing history 50 events

1. 2026-08-08
   days on market $475,000 Active 39 DOM
2. 2026-08-06
   days on market $475,000 Active 37 DOM
3. 2026-08-05
   days on market $475,000 Active 36 DOM
4. 2026-08-04
   days on market $475,000 Active 35 DOM
5. 2026-07-31
   days on market $475,000 Active 31 DOM
6. 2026-07-30
   days on market $475,000 Active 29 DOM
7. 2026-07-28
   days on market $475,000 Active 28 DOM
8. 2026-07-26
   days on market $475,000 Active 26 DOM
9. 2026-07-24
   days on market $475,000 Active 24 DOM
10. 2026-07-23
    days on market $475,000 Active 23 DOM
11. 2026-07-22
    days on market $475,000 Active 22 DOM
12. 2026-07-21
    days on market $475,000 Active 21 DOM
13. 2026-07-20
    days on market $475,000 Active 20 DOM
14. 2026-07-18
    days on market $475,000 Active 18 DOM
15. 2026-07-18
    days on market $475,000 Active 17 DOM
16. 2026-07-16
    days on market $475,000 Active 16 DOM
17. 2026-07-15
    days on market $475,000 Active 15 DOM
18. 2026-07-14
    days on market $475,000 Active 14 DOM
19. 2026-07-13
    days on market $475,000 Active 13 DOM
20. 2026-07-13
    days on market $475,000 Active 12 DOM
21. 2026-07-11
    days on market $475,000 Active 11 DOM
22. 2026-07-10
    days on market $475,000 Active 10 DOM
23. 2026-07-09
    days on market $475,000 Active 9 DOM
24. 2026-07-07
    days on market $475,000 Active 7 DOM
25. 2026-07-06
    days on market $475,000 Active 6 DOM
26. 2026-07-06
    days on market $475,000 Active 5 DOM
27. 2026-07-05
    days on market $475,000 Active 4 DOM
28. 2026-07-03
    days on market $475,000 Active 3 DOM
29. 2026-07-02
    days on market $475,000 Active 2 DOM
30. 2026-06-30
    pricedays on marketlisting id $475,000 Active 1 DOM
31. 2026-06-17
    days on market $490,000 Active 252 DOM
32. 2026-06-16
    days on market $490,000 Active 251 DOM
33. 2026-06-15
    days on market $490,000 Active 250 DOM
34. 2026-06-13
    days on market $490,000 Active 248 DOM
35. 2026-06-09
    days on market $490,000 Active 244 DOM
36. 2026-06-08
    days on market $490,000 Active 243 DOM
37. 2026-06-07
    days on market $490,000 Active 242 DOM
38. 2026-06-04
    days on market $490,000 Active 239 DOM
39. 2026-06-03
    days on market $490,000 Active 238 DOM
40. 2026-06-02
    days on market $490,000 Active 237 DOM
41. 2026-06-02
    days on market $490,000 Active 236 DOM
42. 2026-05-31
    days on market $490,000 Active 235 DOM
43. 2026-02-24
    price $490,000 528-char remark
44. 2025-10-08
    listed $500,000 Active 528-char remark
45. 2017-07-10
    soldstatus
46. 2017-05-12
    historical
47. 2017-03-03
    historical
48. 2017-01-23
    price $300,000
49. 2016-11-12
    listed $200,000 Active
50. 2016-11-11
    listed $300,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast TX · Resets to sale price

• Current annual tax: $9,219 · $768/mo
• Projected year-2 tax: $9,219 · $768/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 7/10 Severe 7 d/yr ≥109°F today · 23 d/yr by 30 yrs out
• 💨 Wind 6/10 Major 27% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $136,260
• − Mortgage interest: −$26,607
• − Property taxes: −$9,219
• − Insurance: −$2,375
• − Repairs & maintenance: −$10,901
• − Management: −$10,901
• − Depreciation: −$13,818
• Taxable income: $62,439
• Est. tax owed @ 24.0%: −$14,985
• After-tax cash flow: $51,175/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 10 photos

Good 75/100 Cosmetic rehab Est. rehab $9,945–$29,835 screening

This multi-family property is in good condition with recent renovations and a prime location near downtown. A fresh coat of paint and some landscaping would further enhance its value.

Deferred maintenance Est. $60,000–$180,000 screening

• Major Roof (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — roof appears old and damaged
• Major Windows (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — windows appear old and damaged
• Major Electrical (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — electrical panel appears old and damaged
• Major Plumbing (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — plumbing fixtures appear old and damaged
• Major Exterior (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — exterior walls appear old and damaged
• Major Other (roof|hvac|water heater|windows|electrical|plumbing|exterior|other) — other components appear old and damaged

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and property value ↑
• Both Landscaping — Improves curb appeal and property value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 21/100

Zoned Schools

Elementary Paul L Dunbar Learning Center F TX #3,052/4,322 Nat'l #30,133/41,679 Middle Billy Earl Dade Middle F TX #1,407/1,662 Nat'l #11,564/14,009 High James Madison H S F TX #1,491/1,632 Nat'l #15,029/17,239

Schools (NCES district)

• District: Dallas ISD
• NCES district ID: 4816230
• Math proficiency: 31% ▼ -16.00%
• Reading proficiency: 36% ▼ -4.00%
• Median HH income: $42,881
• Composite: 28.41/100
• National rank: #6763
• State rank: #559 of 826 in TX

A Composite livability gradescore 81/100

Livability — Dallas

• Score: 81/100
• State rank: #24
• US rank: #1380

Category grades

Amenities A+ Commute A+ Cost of living A- Crime F Employment C+ Housing A+ Health & safety A User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dallas, TX
• County: Dallas County · 2,979,839 people
• City population: 1,168,437
• Metro: Dallas-Fort Worth-Arlington, TX
• Population (ZIP): 18,895
• Household income: $45,557
• Rent vs Own: 61.8% rent · 38.2% own
• Severe rent burden: 14% of renters

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Population outlook (Dallas County) Hauer SSP2

• Today (2025): 2,979,839 people
• By 2030: 3,191,823 · +7.1%
• By 2040: 3,619,611 · +21.5%
• By 2050: 4,026,915 · +35.1%
• By 2075: 4,957,073 · +66.4%
• By 2100: 5,508,725 · +84.9%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: Black 59% Hispanic / Latino 25% White 11% Two or more races 10%
• Hispanic origin (detail): Mexican 21%
• Common ancestry: Italian 1% Hispanic 1%
• Foreign-born: 16% · Canada
• Languages at home: 74% English-only · Spanish 26%

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Political lean MEDSL · Dallas

• 2024 margin: Strong D (+22.2) · D 60.2% · R 38.0% · Other 1.8%
• 2008→2024 swing: +6.9pp toward D · 2008: 15.3pp · 2024: 22.2pp
• All cycles: 2024: D+22.2 2020: D+31.6 2016: D+26.2 2012: D+15.4 2008: D+15.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 0.79%
• Current HPI: 224.2955
• Rent YoY: ▲ 7.19%
• Metro: Dallas-Fort Worth-Arlington, TX
• State GDP YoY: ▲ 3.95%
• F500 in state: 110

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Industry mix (Fortune 500 HQ in TX)

Industry	F500 HQs	Revenue
▸Energy	16	$1,198B
▸Technology	5	$198B
▸Engineering / Construction	4	$72B
▸Energy Services	3	$60B
▸Utilities	3	$41B
▸Healthcare	2	$330B

Property features AI

Finance

• Other: Listing is marketed under an exclusive right to sell agreementPossession at closing/funding or negotiableOriginal and current list price: $475,000
• Financial info: Gross annual income: $52,519Gross annual expenses: $24,656Net operating income: $27,863Insurance expense: $3,864Capitalization rate: 5.87%Financing available: Cash, Conventional, FHA, VA
• HOA & community: No association

Exterior

• Parking: Common parking lot
• Security: Audio and video surveillance allowed for visitors
• Utilities: City waterCity sewerMunicipal utility district: No
• Home design: Residential income property (apartment)1 building with 6 unitsBuilt in 1964Preowned
• Construction: Brick and wood constructionComposition roofPillar/post/pier foundation
• Exterior features: Lot smaller than 0.5 acre

Interior

• Kitchen: Other appliances
• Bedrooms: 6 bedrooms
• Flooring: HardwoodTile
• Bathrooms: 6 full bathrooms
• Heating & cooling: Electric heatingCeiling fan(s)Electric coolingWall/window unit(s)
• Interior features: Cable TV availableHigh-speed internet availableTwo levels
• Laundry & utility: No specific laundry details provided

Price history

+149.5% since first listed

14 events — show timeline

• 2026-06-30 Listed $475,000 NTREIS
• 2026-06-17 Listing Removed — NTREIS
• 2026-02-24 Price Changed $490,000 NTREIS
• 2025-10-08 Listed $500,000 NTREIS
• 2017-07-10 Sold (Public Records) — Public Records
• 2017-05-12 Listing Removed — NTREIS
• 2017-03-03 Listing Removed — NTREIS
• 2017-01-23 Price Changed $300,000 NTREIS
• 2016-11-12 Listed $200,000 NTREIS
• 2016-11-11 Listed $300,000 NTREIS
• 2011-05-12 Listing Removed — NTREIS
• 2011-04-26 Price Changed $150,000 NTREIS
• 2010-05-11 Listed $126,000 NTREIS
• 2003-11-10 Sold (Public Records) $190,413 Public Records

Property tax history

+8.5%/yr

Latest (2025): $9,219 · +5.2% YoY. Source: county tax records.